Which one is correct?
"get into debt" or "incur a debt"?

Question

Which one is correct?
"get into debt" or "incur a debt"?

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This phrase is used to describe the action of accumulating debt or owing money. It is a common and informal way to express this idea.

Examples:

I don't want to get into debt by overspending.
She got into debt by taking out multiple loans.
It's easy to get into debt with credit cards.

Alternatives:

accumulate debt
fall into debt
go into debt
rack up debt
build up debt

This phrase is more formal and specific, often used in legal or financial contexts to indicate the creation of a debt or obligation.

Examples:

The company incurred a debt when it borrowed money from the bank.
Individuals may incur a debt when they sign a loan agreement.
The contract specifies the conditions under which the parties will incur a debt.

Alternatives:

incur debt
incur an obligation
incur liabilities
incur financial obligations
incur a financial liability

Both "get into debt" and "incur a debt" are correct phrases, but they are used in slightly different contexts. "Get into debt" is a more common and informal way to express the idea of accumulating debt, while "incur a debt" is a more formal and specific term often used in legal or financial contexts.

Last Updated: March 19, 2024